Georgian Oil and Gas Corp. signs contract with Turkish Chalik Energy for TPP construction
BAKU, Azerbaijan, Nov. 13
By Tamilla Mammadova – Trend:
The state-owned Georgian Oil and Gas Corporation will build a new 272-megawatt thermal power plant for $174.8 million, Trend reports via Georgian media.
The corporation will sign a contract with the Turkish company "Chalik Energy" for the construction of the thermal power plant.
As reported, the Turkish company named the best price by the international price survey. As of the document, 18 international bidders were interested in the construction of a new thermal power plant, including Mistubishi, Tata Power Enka, Chalik Energy, and other companies.
The lowest price was fixed by Chalik Energy offered the highest price to GOGC for construction of the HPP - $ 238 million (excluding taxes).
According to the Oil and Gas Corporation, $144.8 million provides construction without taxes and $174.8 million including taxes.
According to the audit report, GOGC’s revenue increased by 37 percent in 2019 and it reached 880.6 million lari ($). The Oil and Gas Corporation is one of the largest state-owned companies.
As of 2019, revenues of the Oil and Gas Corporation are divided as follows:
• Sale of natural gas - 576 million lari ($175.8 million);
• Electricity supply - 225 million lari ($68.6 million);
• Trade in crude oil - 15 million lari ($4.5 million);
• Pipeline rental revenue (Baku-Tbilisi-Ceyhan and Baku Supsa pipelines) - 43 million lari ($13.1 million);
• Oil transportation commission income (Baku-Supsa) - 21 million lari ($6.4).
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